All Forum Posts by: Filipe Matos

Hi Dominika, check out meetup.com and look for GTA or Toronto real estate.

I am part of one of those meetup clubs and they give great information and advice. Anyway, always do your own diligence, different people have different opinions and experiences.

For cash flow I would look in Hamilton. You can still buy something for 170K and get $500 cash flow after all expenses and mortgage payments, but be careful to avoid certain neighborhoods

It all depends on how much you have to invest and how much work you want to do.

Filipe

Rehabing a fixer upper with 3 apartments in Ontario may cost 150K if you hire a contractor to do the whole work and management, including all electrical and plumbing.

I can do a Rehab for around 35K if I don't need to redo all electrical and plumbing (3 brand new kitchens and baths), but I have to hire contractors by the hour, be there every day and tell them what to do and not to do.

You also have to know what the tenants like or not and what they are willing to accept.

Filipe

Hi Daniel,

Canadian market is in a very different situation than US, here prices have been increasing every year for probably 2 decades with very few exceptions, so prices are high.

There is almost no foreclosures, there is multiple offer situations with people offering more than asking price.

I have been investing in Toronto downtown in the last 7 years in triplexes and getting returns of around 15% cash on cash through buy in bad shape /renovate/rent/refinance which requires a lot of work and capital in the first year. Like it was said before, you have to create cash flow/equity.

According to my analysis, you get bigger returns on properties/buildings with more than 3 apartments.

I am now looking in Hamilton since there is a chance of more cash flow without doing anything.

Financing is important. The reason I am not investing in US is because I can buy with 20% down and get higher ROI than buying in US with 50% down or all cash. In some areas of Canada there is still a possibility of getting 5%/year appreciation even with insanely high prices.

I don't know what kind of financing you can get in Canada.

I think you are on a good track by staying in US.

Did you take a look in Buffalo? I heard there is a revival in some areas of the city like it's happening in Hamilton/Ontario.

Filipe